Digital cash systems built on the blockchain must retain the qualities of physical money in order to attract more users in developing countries — and must be able to do so without regulatory constraints — according to Circle CEO Jeremy Allaire.

Panel discussion on the World Economic Forum’s Annual MeetingAllaire, entitled “Remittances to Recovery: A New Era in Digital Money”, DiscussedAll the characteristics that make physical money an excellent medium of exchange. There’s a reason why “cash is king,” he said, referring to physical money’s portability, privacy and role in securing individual sovereignty.